Mexican President Andres Manuel Lopez Obrador said on Wednesday he was confident the country’s central bank will act to control inflation as the economy recovers from the COVID-19 pandemic.
Mexican annual inflation accelerated slightly faster than expected in April to 6.08%, its highest level since December 2017.
Mexico’s Resilient Inflation
- Current rate: 4%
- Time of decision: 2 p.m. ET
The door for additional rate cuts remains closed in Mexico as rising fuel and food costs catapulted annual inflation to 6.1% in April, more than double the 3% target.
(Reporting by Dave Graham; Writing by Drazen Jorgic for REUTERS)
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